Long-term fund sales (excluding money market funds) reached EUR22.3bn in November, bringing the year-to-date total to EUR191bn and making full-year figures of EUR200bn in net sales seem more than likely, according to Lipper.

It also seems likely that cross-border funds will reach the EUR200bn mark by the year-end too, having so far attracted EUR187.2bn in 2012 (EUR13.1bn in November). Cross-border funds now make up 43 per cent of the European funds industry’s assets under management.
 
When money market funds are included, the month’s total is less positive, with net sales of EUR15.1bn this month, as investors withdrew from Euro and Sterling denominated funds.
 
Bond funds enjoyed inflows of EUR20.7bn, the fifth month in a row above the EUR20bn mark, bringing net sales of funds in this asset class over the year-to-date to EUR204.3bn.
 
Five groups attracted net sales of more than EUR1bn this month: PIMCO (EUR3.2bn), AXA (EUR2.1bn), Standard Life (EUR1.2bn), Aberdeen (EUR1.1bn) and Nordea (EUR1bn). EUR10bn looks to be the target for groups wanting to be in the top five best sellers in the full-year figures.


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